NEW YORK -- Please replace the release dated October 26, 2005 with the following corrected version due to multiple revisions.
The corrected release reads:
EAST ST. LOUIS APPROVES $30 MILLION PLUS IN TIF FINANCING FOR DIGITAL GAS FARMING CENTER AND WASTE-TO-ENERGY COMPLEX
The funding, which is a direct infusion of cash for the project without equity dilution or assumption of debt and which resolution constituted official intent under the town's Treasury Regulations, will enable the waste-to-energy project to proceed toward commercialization with DEF's farming center the first project to be launched with a minimum dedicated TIF financing of $7.5 million. As a result of several late developments, including the notice that TIF financing was pending, the farming center has received equity and completion funding offers. The farming center, the high profit part of the complex, can be commercial fifteen to eighteen months prior to the bio-fuel and power plants.
Austin Marshall, CEO of Entropic, commented that "these waste-to-energy and farming centers are the wave of the future for large cities and other communities hard pressed by rising energy costs." Mr. Marshall thanked the Mayor's office and the City Council for approving the TIF financing. Mr. Marshall informed the Mayor's office that Digital Gas has committed to reinvest 10% of its net income to further health, education and welfare projects within East St. Louis.
Digital Gas is operating in a support role to Entropic on this and other projects. Its energy & farming centers utilize the low cost, surplus thermal energy to support year-round hydroponics and aquaculture, to produce cost-competitive, pesticide-free food, pharmaceuticals and carbon-based industrial materials. This integrated approach improves the quality of life of host communities by yielding an abundance of clean energy, water, food and strategic materials, while generating substantial profits for the company's investors and strategic partners.
Digital Gas and its subsidiaries can assist inventors and companies in the energy savings area, that need final stage assistance, to achieve commercial viability and profitability.
Digital Gas is now positioned to launch the US "Sustainable Energy Revolution."
Any municipality or corporation that would like to partner on future projects should contact energy&farmingcenters@digitalgas.com.